METALS-Shanghai aluminium on course to end four-day losing streak

Published 9:13 PM ET Wed, 22 Nov 2017
Reuters

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BEIJING, Nov 23 (Reuters) - Aluminium rose by around 1 percent in early trade on the Shanghai Futures Exchange on Thursday, on track to end a four-day losing run. The metal is still down nearly 8 percent in Shanghai so far this month as winter smelting curbs turned out not to be as severe as the market had expected.

* SHFE AlUMINIUM: Shanghai's most-traded aluminium contract was up 0.9 percent at 15,045 yuan ($2,279.30) a tonne at 0112 GMT, having begun November close to 16,400 yuan a tonne.

* LME ALUMINIUM: On the London Metal Exchange, three-month aluminium was down 0.4 percent at $2,099 a tonne amid quiet trade due to the Thanksgiving holiday in the United States. It has lost less than 3 percent this month.

* COPPER: Three-month copper on the LME was dowm 0.3 percent at $6,933 a tonne, having posted a 0.7-percent gain in the previous session. The most-traded copper contract on the ShFE was flat at 53,990 yuan a tonne.

* LME WAIVERS: The LME said on Wednesday it had agreed a range of waivers and discounts to assuage its members when it starts to charge a fee on off-exchange, over-the-counter (OTC) contracts that reference its prices.

* PERU: Workers for the two largest unions at Southern Copper Corp said on Wednesday they had started an indefinite strike, demanding a fair share of profits, while the company said the stoppage had not affected operations.

* INDONESIA: State-owned diversified miner PT Aneka Tambang Tbk (Antam) is targetting a 162-percent jump in nickel ore sales next year to 11 million tonnes from an estimated 4.2 million tonnes this year, its chief executive said.